Power Mech secures Rs 970 Cr OandM order from Vedanta Power
POWERMECH · price
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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.4 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Power Mech Projects has secured an order worth Rs 970 Crores (Rs 890 Cr basic value plus Rs 80 Cr provision for additional services), excluding GST, from Vedanta Power Limited. The contract covers end-to-end Operations and Maintenance of Vedanta's 2x600 MW coal-based Sakti Thermal Plant in Chhattisgarh over 60 months. It is a domestic order and not a related party transaction. The order significantly adds to the company's long-term revenue visibility given its multi-year annuity-like nature.
Rs 970 Cr order boosts order book and provides 5-year revenue visibility. Positive for growth, supports margin profile through recurring OandM income.